Increase in supermarket turnover in January-June
The turnover of organized food retailing in the first half of 2024 increased by 3.4% from the same period last year, according to the latest market data from NielsenIQ.
The determinants for this increase were fast-moving consumer products that make up 70% of organized retail sales, which increased by 3.6%.
From the analysis of the data on sales volumes and average price, it is evident that demand is driving the growth of fast-moving consumer goods (3.3%), as the average basket price increased in the first half of the year by a marginal 0.3%.
Average price growth rates are decelerating month by month: The half-yearly increase comes only from the first quarter (+1.0% compared to the corresponding one in 2023), while the second showed a downward trend (-0.5%).
Interestingly, only in the standard food super-categories was there growth in average price (+1.2%), while in the non-food super-categories there were deflationary trends, compared to a year ago, with home care products (detergents etc) reduced their average price by 4.6%, as did personal hygiene and beauty products (shampoo, shower gels etc) by 3.2%.
Despite the apparent slowdown in price growth, private label products continued their upward trajectory, having increased their value sales levels by 4.7 percentage points and reaching, for the first half of 2024, a market share of 25%.
